1.
Call the trading desk at 1-617-357-0688
to speak with a dealer.
2. State your name, account number, user
ID and password.
3. Ask for a price in the desired currency
pair, indicating the amount you wish to
trade.
Example:
"May I have price in 3 Euro?"
For: EURUSD use Euro
GBPUSD use British Pound
AUDUSD use Australian Dollar
USDJPY use Dollar Yen
USDCHF use Dollar Swiss
USDCAD use Dollar Canada
Long
= Buy Short
= Sell
3.
After a dealer gives you a quote and you
wish to open or close a position, you should
immediately indicate whether you buy or
sell in the following manner because
the quote given will expire when the dealer
says "CHANGE" or "OFF":
a) How many lots you are buying or selling.
b) Whether this is an opening position or
closing position (if it is to close a position,
the dealer might ask you to indicate
the opening price of the position that
you wish to close).
Example:
"Buy 3 Euro, opening position."
Example: "Sell 2 Dollar Swiss, closing
position of a long position at an opening
price of 1.6982."
If
you do not wish to trade at that particular
quote that you just received from dealer, simply
say "nothing there" or "re-price",
at which point you may decide to deal or
pass entirely on the dealer quote or re-quote.
5.
After you execute your deal, the dealer
will confirm your deal details back to you.
6.
If it is correct, confirm with the dealer
and hang up. You have now finished
your phone deal. You will also check that
you phone deal is inputted correctly into
your account on the on-line trading platform.
Example Phone Deal
Customer: Hi this is customer
ABC, account number 123, user ID XYZ and
password QRS.
Dealer: Hi ABC, how may I
help you? (After confirming the identity
of the customer)
Customer: Can I have in price
in 3 Euro?
Dealer: Price is 3 Euro is
currently 1.1110/15
Customer: I Buy 3 Euro, opening
position.
Dealer: To confirm, you bought
3 Euro at 1.1115, opening position for account
number 123.
Customer: All agreed.
Dealer: Thank you.
Customer/Dealer: End Call. |
